A man borrows ₹ $4000$ from a bank at $7 \frac{1}{2} \%$ compound interest. At the end of every year he pays ₹ $1500$ as part repayment of loan and interest. How much does he still owe to the bank after three such instalments (In ₹) ?
A man borrows ₹ $4000$ from a bank at $7 \frac{1}{2} \%$ compound interest. At the end of every year he pays ₹ $1500$ as part repayment of loan and interest. How much does he still owe to the bank after three such instalments (In ₹) ?
- A
$123.25$
- B
$125$
- C
$400$
- D
$469.18$
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